Investors with a lot of money to spend have taken a bullish stance on Novo Nordisk NVO.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with NVO, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 15 options trades for Novo Nordisk.
This isn't normal.
The overall sentiment of these big-money traders is split between 73% bullish and 26%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $69,000, and 14, calls, for a total amount of $1,417,040.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $87.5 and $105.0 for Novo Nordisk, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Novo Nordisk's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Novo Nordisk's whale activity within a strike price range from $87.5 to $105.0 in the last 30 days.
Novo Nordisk 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NVO | CALL | TRADE | BULLISH | 12/15/23 | $87.50 | $240.0K | 2.2K | 1.7K |
| NVO | CALL | TRADE | BEARISH | 12/15/23 | $87.50 | $240.0K | 2.2K | 900 |
| NVO | CALL | TRADE | BULLISH | 12/15/23 | $87.50 | $235.2K | 2.2K | 500 |
| NVO | CALL | SWEEP | BULLISH | 12/15/23 | $87.50 | $119.1K | 2.2K | 2.0K |
| NVO | CALL | TRADE | BULLISH | 01/17/25 | $95.00 | $92.2K | 349 | 6 |
About Novo Nordisk
With roughly one third of the global branded diabetes treatment market, Novo Nordisk is the leading provider of diabetes-care products in the world. Based in Denmark, the company manufactures and markets a variety of human and modern insulins, injectable diabetes treatments such as GLP-1 therapy, oral antidiabetic agents, and obesity treatments. Novo also has a biopharmaceutical segment (constituting roughly 10% of revenue) that specializes in protein therapies for hemophilia and other disorders.
After a thorough review of the options trading surrounding Novo Nordisk, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Novo Nordisk
- Currently trading with a volume of 599,143, the NVO's price is down by -1.63%, now at $99.54.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 79 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Novo Nordisk, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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